Registration for PayNow Corporate service Sample Clauses
The 'Registration for PayNow Corporate service' clause outlines the requirements and procedures for a business entity to enroll in the PayNow Corporate payment platform. Typically, this involves submitting an application, providing necessary corporate identification and banking details, and agreeing to the service's terms and conditions. The clause ensures that only authorized and properly vetted organizations gain access to the PayNow Corporate service, thereby maintaining security and compliance while facilitating efficient digital payments for businesses.
Registration for PayNow Corporate service. (a) The Customer must have a unique entity number (“UEN”) issued by a UEN issuance agency appointed by the Government of Singapore to be eligible to link its UEN with an optional 3 character suffix (“Alias”) to any one of its current accounts maintained with the Bank.
(b) The Customer may register, and subsequently amend or de-register, its Alias to any of its current account(s) via HSBC or such other mode the Bank may offer by following the instructions set out therein.
(c) By registering its Alias, the Customer consents to:
(i) the Bank disclosing relevant Customer Information to the third party that operates the PayNow / PayNow Corporate service (“Database Operator”) for its use, processing and archival and disclosure to its service providers for the purposes of providing, maintaining and enhancing the PayNow / PayNow Corporate service and related services and
(ii) the Database Operator disclosing the relevant Customer Information received from the Bank to: for the purposes of and in connection with the PayNow / PayNow Corporate service. If for any reason the Bank no longer avails the PayNow Corporate service to the Customer, the Bank shall be authorised to deregister the Customer’s details from the PayNow Corporate service database.